The company expects to complete the purchase of both areas within the next month, subject to certain conditions.
Both ski areas serve major snow sports markets in the Midwest with more than 468,000 active skiers and snowboarders in the nearby Minneapolis-St. Paul and Detroit metropolitan areas.
Vail Resorts plans to upgrade each resort and create opportunities to connect guests from each of these ski areas to its seven resorts in Colorado and Lake Tahoe through season passes and other lift ticket products.
The company is planning to offer season pass products for Afton Alps and Mount Brighton in time for the 2013-14 season pass sales period, which begins in March 2013.
Meanwhile, Afton Alps and Mount Brighton season pass holders will immediately receive a 25 percent discount off of the window rate on lift tickets at Vail, Beaver Creek, Breckenridge, Keystone, Heavenly, Northstar and Kirkwood this season.
Among the planned upgrades are redesigned and updated terrain parks, enhanced coaching and instruction for all levels of skiers and riders, dedicated racing programs, expanded dining and entertainment options at the base area, and integrated technology and social media programs like EpicMix, EpicMix Photo and EpicMix Racing.
The company also will also improve snowmaking, parking and access and will review opportunities to add new summer activities.
The company will outline details on these plans in the coming months and meeting with the local communities to seek their input.
Nearing its 50th anniversary, Afton Alps is the largest ski area near a major city in the Midwest with 48 trails on nearly 300 acres, 18 lifts, four base areas, night skiing and riding, tubing, and an 18-hole golf course.
Afton Alps is located 33 miles from more than 2 million people and more than 161,000 skiers and snowboarders.
Open since 1960, Mount Brighton features 26 trails on 130 acres, six lifts, night skiing and riding and an 18-hole golf course.
The ski area is located 43 miles from Detroit and is within reach of more than 4 million people and more than 307,000 skiers and snowboarders in the Detroit, Lansing and Ann Arbor metropolitan areas.